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Voestalpine Expands into the Gulf Region
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The Austrian steel group will manufacture rail components for Saudi Arabia over a joint venture.
Voestalpine Expands into the Gulf Region / Picture: © Voestalpine AG
The Railway Systems Division of the Linz-based steel group Voestalpine expands for the first time to the Gulf region. Through a joint venture with the Al Mobty group, VAE Hightech will manufacture switches for Arab railway lines. The company from Linz will have a stake of 51% in the joint venture.
Initially around three million euro will be invested in the plant with 50 new…
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